The observability company New Relic has announced it is expanding its portfolio with a new open-source offering called New Relic Pathpoint, which provides observability into business processes.
It provides insights into all the stages of the customer journey: customer behaviors, transactions, search queries, product selection, processing times, and post-interaction activities.
Having access to these metrics enables business teams to make better decisions, leading to improved customer experience and increased revenue.
Pathpoint also enables business teams to set and monitor service-level objectives that are aligned with business priorities.
Another outcome tied to business observability is that business teams will be able to better optimize their resources and costs. Pathlight helps teams group their applications, services, and infrastructure based on business functions, enabling them to prioritize their budget based on value added to the business.
New Relic plans to incorporate generative AI features into the platform soon to help business teams identify more opportunities for saving money and increasing revenue.
“The stakes are high for digital businesses. When a software outage has the potential to cost you millions in lost revenue per hour, IT and engineering leaders simply need to understand the business impact of the software they build and operate,” said Manav Khurana, product officer at New Relic. “With Pathpoint, we are building upon our industry leadership to pioneer business process observability so that engineering leaders and business leaders can come together in every organization and make better-informed decisions based on complete data.”